Exercising restraint
Article Abstract:
The US is in danger of offsetting the benefits that foreign reinsurers provide to the American market. Reinsurers in Great Britain, Western Europe and Bermuda provide critical capacity not available in the US. Legislative efforts currently underway are anticompetitive in that they would force foreign companies to provide funding in excess of reserves ceded to them. One bill, the Federal Insurance Solvency Act of 1992, is a pleasing compromise. It would monitor alien firms, instead of requiring them to be solvent on a day-to-day basis.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1992
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The claim-fraud epidemic
Article Abstract:
The automobile insurance crisis cannot be resolved without investigating the increasing problem of claim fraud. The Insurance Research Council reports that safer automobiles have resulted in a reduction of accidents and property-damage claims. However, the rate of bodily-injury claims per 100 property-damage claims has increased dramatically. Corruption and fraud are believed to be the cause of this increase in soft-tissue injury claims. Legislation that discourages such fraud is called for.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1992
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